Novan Receives Phase 2 NIH Federal Grant of Approximately $1.0 Million

• Provides funds to evaluate the mechanistic antiviral activity of WH602
• Novan to progress IND-enabling toxicology and pharmacology studies for WH602
• Grant is additive to $223,000 Phase 1 NIH grant received in August 2019
• Women’s health initiative focused on potential HPV related onco-virus therapeutics

 

MORRISVILLE, N.C., Feb. 20, 2020 (GLOBE NEWSWIRE) — Novan, Inc. (“the Company” or “Novan”) (Nasdaq:NOVN) today announced that the Company has received approximately $1.0 million funding from the National Institutes of Health (NIH) to cover the first year of a two-year Phase 2 federal grant. Novan is eligible to receive approximately $500,000 of additional funding for the second year, subject to availability of NIH funds and satisfactory progress of the project. This grant is additive to the approximately $223,000 Phase 1 NIH grant received in August 2019.